Legal Question in Real Estate Law in California

Gift of real property

My very elderly (91 and 78) parents own a house worth about $600,000. Can they give it to my 49 yr. old brother (who has a low income)? What would be the correct procedure? Thanks.


Asked on 9/20/06, 1:01 am

2 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Gift of real property

They could create a trust so that he could have it when they are both gone. If they want to dispose of it for purposes of qualifying for government programs, they should see an attorney who specializes in elderly issues. I can envision some dangers of giving a house to someone with low income without certain provisions to protect them.

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Answered on 9/20/06, 1:05 am
John D. Williams Law Offices of John D. Williams

Re: Gift of real property

I would recommend that they put their assets in trust. This way the beneficiaries would get a stepped up tax basis and avoid probate.

If there are other reasons, please contact me.

If would like a free initial consultation please telephone me. I have over 25 years experience.

Good luck and thank you for your inquiry.

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Answered on 9/20/06, 6:59 pm


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